ExxonMobil Stock News

Exxon Mobil Corp expects to cut the number of its employees in Singapore by 10% to 15% and move its office to the site of its Jurong plant from downtown by the end of 2027, in global restructuring efforts, the company said on Wednesday.

Exxon, Chevron and ConocoPhillips have all announced job cuts this year. Independent shale oil executives have given a grim outlook for the industry.

Exxon Mobil joins other oil industry leaders by announcing its move to cut costs by eliminating 2,000 jobs across its global workforce as part of a "long-term restructuring plan."

Exxon Mobil (XOM) is slashing about 2,000 jobs worldwide as part of a planned reorganization, the latest sign of cutbacks at several major oil companies have reduced their workforces in recent months amid falling oil prices.

Exxon Mobil is eyeing projects in South Africa which it views as a top destination for liquefied natural gas (LNG), a senior gas executive said at an African energy conference in Cape Town on Tuesday.

Exxon Mobil Corp (NYSE:XOM, ETR:XONA) revealed plans to reduce its international workforce by 2000 positions as the Texas-based oil company consolidates smaller offices into regional hubs as part of a long-term restructuring plan.  The regional hubs will focus on Exxon's key growth initiatives such as oil in Guyana, liquefied natural gas (LNG) along the Gulf Coast, and international trading.

Benchmark oil prices have slumped this year as the OPEC+ cartel bids to win back market share.

U.S. energy major Exxon Mobil will lay off 2,000 workers globally as part of a long-term restructuring plan, Bloomberg News reported on Tuesday, adding to a wave of job cuts in the oil and gas industry this year.